View Our Homes a blog about Calgary and Area Real Estate en-ca (C) 1996-2018 Norm Rousseau & Sylvia Garrett MaxWell Realty 120 Tue, 02 Oct 2018 05:11:21 G10T Tue, 02 Oct 2018 05:11:21 G10T Tue, 02 Oct 2018 05:11:21 G10T <p>Attached October 2, 2018<p>• The attached sector has recorded year-to-date sales of 2,814. This is 15 per cent below last year and 14 per cent below long-term averages. <p>• With no significant reduction in new listings, inventory levels remained elevated, pushing up months of supply to over seven months. <p>• Elevated levels of supply compared to demand persisted for both row and semi-detached product types. Like all other sectors, the oversupply has weighed on prices across all districts, except the City Centre, North East and East. HOUSING MARKET FACTS Norm Rousseau Tue, 02 Oct 2018 05:05:56 G10T <p>Apartment&nbsp; October 2, 2108<p>• The apartment sector has seen the slowest decline in sales at six per cent so far this year. Like the detached sector, activity remains over 20 per cent below long-term averages, totaling 2,103 sales. <p>• For the fourth month in a row, new listings have generally trended lower than levels recorded last year. This has helped reduce some of the inventory in the market compared to the previous year. <p>• However, even with some reductions in inventory levels, the market continues to remain firmly in buyer's territory when compared to the reduction in sales.<p>• With more supply than demand, benchmark prices for apartment condominium continued to ease in September, declining by 0.4 per cent over last month and 2.7 per cent compared to last year.</p> HOUSING MARKET FACTS Norm Rousseau Tue, 02 Oct 2018 05:01:39 G10T <p>Detached - October 2, 2018<p>• Year-to-date sales eased to 7,945 units, over 20 per cent below the 10-year average. Sales eased across all price ranges, except properties under $300,000, which posted a modest gain.<p>• Easing sales were met with some adjustments in new listings in September. However, inventories remain elevated and are higher than long-term averages in most districts. HOUSING MARKET FACTS Norm Rousseau Tue, 02 Oct 2018 04:57:56 G10T <p>City of Calgary, October 1, 2018 – With no change in the economic climate, Calgary's sales activity totaled 1,272 units in September, a 13 per cent decline over the previous year and well below long-term averages. There was a pullback in sales across all product types, most notably the detached market. Persistent buyers market continues Norm Rousseau Wed, 19 Sep 2018 07:31:02 G9T <p><b>by Neil Sharma 19 Sep 2018</b><p>Interest rates have been expected to rise all year, but ongoing negotiations for a new North American Free Trade Agreement have quashed the latest planned hikes.<p>“The Bank of Canada indicated that if there were another increase of the interest rate and then there was a collapse of the trading relationship with North American partners, that would significantly negatively impact the economy,” said Tim Hudak, CEO of the Ontario Real Estate Association. “Certainly from our point of view, that’s bad for the housing market, so the Bank wisely took a wait-and-see approach until the trade negotiations are completed.” NAFTA negotiations highlight looming crisis for homeowners Norm Rousseau Wed, 19 Sep 2018 07:26:17 G9T <p>August 4, 2018<p>• Year-to-date detached sales eased across each district. Elevated inventory levels caused months of supply to remain just below five months in August and continued to weigh on housing prices across all districts. <p>• Detached benchmark prices totaled $497,000 in August. This is a 0.74 per cent decline over last month and 2.6 per cent below the previous year. <p>• Prices have trended down in all districts in August, however, on a year-to-date basis prices remain above last year in both the City Centre and West. <p>• Year-to-date average detached benchmark prices have eased by 0.56 per cent over the previous year, reducing some of the price recovery from last year.</p> HOUSING MARKET FACTS Detached Homes Norm Rousseau Wed, 19 Sep 2018 07:23:09 G9T <p>City of Calgary, September 4, 2018 – Easing sales, gains in new listings and elevated inventory levels continue to slow Calgary’s recovery in the housing market in August.<p>Persistent oversupply in the Calgary housing market continued to weigh on prices in August. Citywide benchmark prices edged down over previous months by 0.8 per cent and are 2.4 per cent below last year’s levels. Unemployment rate slows housing market recovery Norm Rousseau Wed, 15 Aug 2018 04:54:21 G8T <p>Overall, prices are expected to ease by over one per cent across the city, with expected declines ranging from 2.5 per cent in the apartment sector to nearly one per cent in the detached sector. <p>"Prices were not expected to improve this year. However, supply has not adjusted fast enough to weaker than expected demand. This is causing us to make a downward revision from earlier estimates." Mid-year market update: economic conditions continue to weigh on housing Norm Rousseau Sat, 11 Aug 2018 05:21:36 G8T <p><a href=""><img width="288" height="217" title="IMG_0545" style="display: inline; background-image: none;" alt="IMG_0545" src="" border="0"></a><a href=""><img width="289" height="218" title="IMG_0547" style="display: inline; background-image: none;" alt="IMG_0547" src="" border="0"></a></p><p>FORMER SHOW HOME offered for sale by the original owner. Enjoy your AIR CONDTIONED home on a quiet cul-de-sac minutes from schools, shopping, restaurants &amp; public transportation. Large foyer with custom bench and storage. OPEN CONCEPT wired for speakers, 9ft ceilings, 3 sided fireplace and hardwood floors. Great kitchen with raised eating bar, pantry and stainless appliances. . Family sized dining area perfect for entertaining. Convenient mud/laundry room with sink and adjacent 2 piece bath. Well designed upper level with a spacious bonus room. KING SIZED MASTER SUITE, with walk-in closet and 5 piece ensuite. Plus two other generous sized bedrooms. Bright open BASEMENT DEVLOPMENT with an additional 3 piece bath provides plenty of additional space for your teenager, pool table and over night guests. Double attached garage is drywalled, painted and heated!</p><p>More Info: <a title="" href=""></a></p> 110 Bridlerange Place SW $447000 Norm Rousseau Thu, 02 Aug 2018 06:26:42 G8T <p><strong>Detached, Attached &amp; Apartment Facts</strong><p><strong>Detached</strong><ul><li>Oversupply issues continue to worsen in each district of the city compared to last year. However, compared to historical conditions, conditions today remain better than in 2016 in both the West and City Centre districts.<li>Year-to-date, the West and City Centre areas have recorded prices higher than last year's levels and continue to edge towards price recovery. Benchmark prices in the West have averaged $733,329 this year, comparable to previous highs.<li>City Centre benchmark prices have averaged $693,243, nearly three per cent below previous highs. Most districts have recorded detached prices that remain over four per cent below previous highs.</li></ul><p><strong>Apartment</strong><ul><li>Easing new listings in the apartment condominium sector have prevented any further gains in the amount of inventory in the market.<li>Supply levels remain elevated compared to sales, keeping year-to-date prices three per cent below last year's levels and nearly 14 per cent below previous highs.</li></ul> HOUSING MARKET FACTS Norm Rousseau